In this discussion, I examine whether Pax Americana is coming to an end and what that means for currencies, geopolitics, markets, and global order.

The weakening of American dominance does not automatically mean a better world will emerge. It may instead expose deeper disorder: unstable currencies, geopolitical fragmentation, weaker institutions, and rising uncertainty across much of the world.

We also discuss arbitrage, investing, philosophy, and how investors should think about risk when the old global framework begins to lose credibility.

Watch the full discussion below:

Key Takeaways

• Whether Pax Americana is coming to an end
• How geopolitical change affects currencies and markets
• Why the decline of U.S. dominance may increase global disorder
• Arbitrage and investing in a fragmented world
• The philosophical foundations needed to judge risk and opportunity